TriplePoint Venture Growth BDC Corp 8-K, filed Dec 21, 2020
TriplePoint Venture Growth BDC Corp. (TPVG)
8-K
2020-12-21
For: 2020-12-21
View Original
Added on
April 10, 2026
About this 8-K
TriplePoint Venture Growth BDC Corp filed this 8-K on December 21, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 21, 2020
TriplePoint Venture Growth BDC Corp.
(Exact name of registrant as specified in its charter)
| Maryland | 814-01044 | 46-3082016 | ||||||||||||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| TriplePoint Venture Growth BDC Corp. 2755 Sand Hill Road, Suite 150 Menlo Park, California | 94025 | |||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
(650) 854-2090
(Registrant’s telephone number, including area code)
n/a
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| Common Stock, par value $0.01 per share | TPVG | New York Stock Exchange | ||||||||||||
| 5.75% Notes due 2022 | TPVY | New York Stock Exchange | ||||||||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 7.01 Regulation FD Disclosure.
On December 21, 2020, TriplePoint Venture Growth BDC Corp. (the “Company”) issued a press release announcing that its Board of Directors declared a special distribution of $0.10 per share, payable on January 13, 2021, to stockholders of record at the close of business on December 31, 2020. Stockholders may receive the distribution payment in cash or in shares of the Company’s common stock in accordance with their election under the Company’s dividend reinvestment plan.
A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless it is specifically incorporated by reference therein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Press Release dated December 21, 2020 (furnished herewith) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TriplePoint Venture Growth BDC Corp. | |||||
| By: | /s/ James P. Labe | ||||
| Name: | James P. Labe | ||||
| Title: | Chief Executive Officer | ||||
Date: December 21, 2020
Exhibit 99.1
TriplePoint Venture Growth BDC Corp.
Announces Special Distribution of $0.10 per Share
SPECIAL DIVIDEND REFLECTS SIGNIFICANT CAPITAL GAINS EARNED FROM WARRANT AND EQUITY PORTFOLIO
TOTAL DISTRIBUTIONS DECLARED IN 2020 INCREASES TO $1.54
MENLO PARK, Calif., December 21, 2020 — TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company,” “TPVG,” “we,” “us,” or “our”), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in the technology and other high growth industries, today announced that its Board of Directors declared a special distribution of $0.10 per share, payable on January 13, 2021, to shareholders of record at the close of business on December 31, 2020. Shareholders have the option to receive the distribution payment in cash or receive shares of common stock pursuant to the Company’s dividend reinvestment plan.
During fiscal year 2020, the Company declared distributions of $1.54 per share, bringing the total cumulative distributions declared since its IPO to $10.06 per share. The special dividend represents a portion of the Company’s estimated net capital gain income earned during the fiscal year. The anticipated remaining undistributed net capital gain income along with the Company’s estimated undistributed taxable earnings from net investment income, which was $10.0 million or $0.33 per share, as of September 30, 2020, will spill-over into 2021.
“We benefited from our warrant and equity portfolio in 2020, generating significant capital gains for shareholders,” stated Jim Labe, chairman and chief executive officer of the Company. “The declaration of our third special distribution since our IPO highlights the powerful warrant and equity investment components of our returns and underscores TPVG’s differentiated business model.”
“We are uniquely positioned to generate additional long-term shareholder returns from our warrant and equity investments,” stated Sajal Srivastava, president and chief investment officer of the Company. “This complements our high yielding venture debt portfolio, which has enabled TPVG to generate income in excess of our distributions since our IPO on a cumulative basis and for the past 4 years in a row.”
ABOUT TRIPLEPOINT VENTURE GROWTH BDC CORP.
The Company was formed to expand the venture growth stage business segment of TriplePoint Capital LLC, the leading global provider of financing across all stages of development to technology, life sciences and other high growth companies backed by a select group of venture capital firms. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by lending primarily with warrants to venture growth stage companies. The Company is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended.
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future events, performance, condition or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the SEC. You should not place undue reliance on these forward-looking statements. The Company undertakes no duty to update any forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by law.
INVESTOR RELATIONS AND MEDIA CONTACT
The IGB Group
Leon Berman
212-477-8438
lberman@igbir.com